Insider Selling: Zillow Group (NASDAQ:Z) CTO Sells $61,563.52 in Stock

Zillow Group, Inc. (NASDAQ:Z) CTO David Beitel sold 1,798 shares of the business’s stock in a transaction that occurred on Thursday, August 13th. The shares were sold at an average price of $34.24, for a total value of $61,563.52. Following the sale, the chief technology officer owned 133,013 shares of the company’s stock, valued at approximately $4,554,365.12. This represents a 1.33% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. The sale was made to cover tax withholding obligations related to the vesting of equity awards.

Zillow Group Price Performance

NASDAQ:Z opened at $36.58 on Thursday. Zillow Group, Inc. has a one year low of $29.23 and a one year high of $93.88. The company has a market cap of $8.23 billion, a PE ratio of 166.28, a PEG ratio of 1.50 and a beta of 1.98. The firm has a 50-day moving average of $32.92 and a 200-day moving average of $39.52.

Zillow Group (NASDAQ:Z) last released its quarterly earnings results on Wednesday, August 5th. The financial services provider reported $0.52 EPS for the quarter, beating analysts’ consensus estimates of $0.45 by $0.07. The business had revenue of $772.00 million during the quarter, compared to analyst estimates of $758.10 million. Zillow Group had a return on equity of 2.32% and a net margin of 1.96%. On average, equities research analysts expect that Zillow Group, Inc. will post 0.89 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

A number of brokerages recently issued reports on Z. Wall Street Zen cut Zillow Group from a “buy” rating to a “hold” rating in a research note on Saturday, August 8th. Weiss Ratings downgraded shares of Zillow Group from a “sell (d+)” rating to a “sell (d)” rating in a research note on Friday, May 22nd. Jefferies Financial Group lowered their price target on shares of Zillow Group from $75.00 to $60.00 and set a “buy” rating on the stock in a research report on Tuesday, July 14th. JPMorgan Chase & Co. dropped their price target on shares of Zillow Group from $76.00 to $62.00 and set an “overweight” rating on the stock in a research note on Tuesday, August 11th. Finally, Deutsche Bank Aktiengesellschaft cut their price objective on shares of Zillow Group from $80.00 to $68.00 and set a “buy” rating for the company in a report on Friday, May 8th. Two investment analysts have rated the stock with a Strong Buy rating, five have assigned a Buy rating, eight have assigned a Hold rating and one has given a Sell rating to the company’s stock. According to data from MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus target price of $66.75.

Institutional Investors Weigh In On Zillow Group

A number of institutional investors and hedge funds have recently bought and sold shares of Z. IFC & Insurance Marketing Inc. bought a new stake in Zillow Group in the 4th quarter worth approximately $68,000. SBI Okasan Asset Management Co.Ltd. bought a new position in Zillow Group during the fourth quarter valued at approximately $71,000. Towarzystwo Funduszy Inwestycyjnych PZU SA grew its position in Zillow Group by 34.5% during the fourth quarter. Towarzystwo Funduszy Inwestycyjnych PZU SA now owns 1,170 shares of the financial services provider’s stock valued at $80,000 after acquiring an additional 300 shares during the last quarter. Advisory Services Network LLC purchased a new position in shares of Zillow Group during the third quarter worth approximately $99,000. Finally, Leonteq Securities AG raised its stake in shares of Zillow Group by 627.0% during the first quarter. Leonteq Securities AG now owns 1,345 shares of the financial services provider’s stock worth $56,000 after acquiring an additional 1,160 shares in the last quarter. 71.01% of the stock is owned by hedge funds and other institutional investors.

About Zillow Group

Zillow Group, Inc is an online real estate marketplace company that operates a portfolio of consumer-facing websites and mobile apps designed to connect buyers, sellers, renters, homeowners and real estate professionals. The company’s platforms aggregate property listings, rental listings, and related information to help users search for homes, estimate property values and connect with agents and service providers. Zillow generates revenue primarily through advertising and lead-generation services for real estate professionals, property managers and mortgage lenders.

Key products and services include the Zillow and Trulia consumer websites and apps, which provide searchable listings, photos, neighborhood data and the company’s automated home valuation tool known as the “Zestimate.” Zillow also offers a rentals marketplace, a mortgage marketplace and tools for home buying and selling such as Zillow Premier Agent for agent advertising and leads, as well as ancillary services designed to support transactions, including closing and title-related offerings.